New Delhi, 12th July 2023: Engineers and marketers at stock exchange operator Nasdaq are embracing newer artificial intelligence months after ChatGPT’s debut, while its attorneys are stepping more cautiously, its chief technology and chief information officer said on Tuesday.
Inside Nasdaq, which also sells technology to global markets, personnel from several departments are experimenting with so-called generative AI. According to Brad Peterson, who spoke at the Reuters MOMENTUM conference in Austin, this technology, like the viral chatbot, can be asked to generate text or other new content based on previous data.
According to Peterson, one unit held a “hackathon,” or collaborative engineering event, to investigate ways to include generative AI into its product for combating financial fraud. The system might also generate investigation reports. Verafin, the division, has also used AI to combat wire fraud and detect forged checks.
Peterson said, “There’s going to be a race on the deepfakes.”
According to Peterson, computer programmers are looking to AI to recommend code for Nasdaq’s operations. Marketers are investigating how ChatGPT-style programmes may generate blog posts.
Lawyers at the company, on the other hand – a group that some expect to utilise AI to summarise extensive documents – are intrigued, but to a lesser level, he added.
“The legal team is naturally a little more cautious,” Peterson added.
Nasdaq has taken a cautious approach to dealing with AI concerns, such as the potential that confidential content provided to it could be viewed by others.
Employees must register and receive training before using specific AI technologies internally, according to Peterson. A spokeswoman said that engineers have filed more requests for permission than legal counsel. However, the corporation would not instantly prohibit such tools.
Nasdaq works mostly, but not solely, with Amazon Web Services. Peterson commented on rival Microsoft, which is making a strong business push through its investment in ChatGPT maker OpenAI.
He said, “We are absolutely a big user of the whole Office Suite and the corporate email and Teams.”
Nasdaq has obtained a preview of Amazon’s response to the generative AI competition, specifically Amazon Bedrock, a technical strategy that integrates Claude AI from the firm Anthropic. Peterson made no mention of Titan, the Amazon-created family of models that received less attention than OpenAI.
